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READING THE LINE [DAY TRADERS MIND] - FUTURES ONLY |
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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Post: #121  Posted: Mon Sep 16, 2013 1:51 pm Post subject: |
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thanks...i was similarly told by one webinar i was watching last night 2 am...thanks i am exiting at 5862 nf [positions sold at that level] if it come from now now. earlier has recommended jittery people to get out at that level [5865]..now i am having same [or i should say right money management]
u are right that we can sell below 5800 and seel on rise too.... |
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amitagg
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Joined: 01 Oct 2013
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| Post: #122 Posted: Mon Sep 16, 2013 2:08 pm Post subject: |
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| holding 50% balance shorts and sold sep 5900 calls @ 89 |
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anilraj
White Belt
Joined: 30 Aug 2013
Posts: 24
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| Post: #123 Posted: Mon Sep 16, 2013 2:17 pm Post subject: |
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| Mcdowell-n at 2571. Whether reversal sign appearing for shorting ? |
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amitagg
Black Belt
Joined: 01 Oct 2013
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| Post: #124 Posted: Mon Sep 16, 2013 7:29 pm Post subject: |
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Yes it seems so...on 6 month daily chart, H and S formation and even volumes higher of left shoulder than right...but pattern not complete..
U can sell one lot ..stop above 2625-2650 not resarched exact level...
One thing...don't leverage on this stock and if you want to sell more...find some other stock to sell.. |
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anilraj
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Joined: 30 Aug 2013
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| Post: #125 Posted: Mon Sep 16, 2013 7:45 pm Post subject: |
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[quote="amitagg"]Yes it seems so...
I am holding 3 lot short at 2578. it is very volatile. Today nifty candle is bearish. What is cooking ? Mcdowell candle also bearish. Stochastic above 80. Tomorrow we will Know whether lower level possible. |
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anilraj
White Belt
Joined: 30 Aug 2013
Posts: 24
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| Post: #126 Posted: Tue Sep 17, 2013 9:45 am Post subject: |
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| there was vertical fall in Mcdowell. From Yesterday level of 2571 to 2445 in first 30 minute of trade. Covered short much earlier. I cover profitable position quickly and carry loosing position long for big loss. Today out of market after 10.00 am |
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #127 Posted: Tue Sep 17, 2013 9:58 am Post subject: |
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| anilraj wrote: | | there was vertical fall in Mcdowell. From Yesterday level of 2571 to 2445 in first 30 minute of trade. Covered short much earlier. I cover profitable position quickly and carry loosing position long for big loss. Today out of market after 10.00 am |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #128 Posted: Tue Sep 17, 2013 11:54 am Post subject: |
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| squared all 5900 calls sold at cost...still short 50% on futures. |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #129 Posted: Tue Sep 17, 2013 12:00 pm Post subject: |
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| amitagg wrote: | | squared all 5900 calls sold at cost...still short 50% on futures. |
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rk_a2003
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Joined: 21 Jan 2010
Posts: 2734
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| Post: #130 Posted: Tue Sep 17, 2013 9:35 pm Post subject: |
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| amitagg wrote: | | squared all 5900 calls sold at cost...still short 50% on futures. |
Amit, I guess you get a chance to exit in profit most probably. |
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #131 Posted: Tue Sep 17, 2013 11:10 pm Post subject: |
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| amitagg wrote: | these are only possibilities.....whether range bound or otherwise not certain........let price action dictate our strategy...
logic would suggest that shorts [including recent shorts at 5800-5900] would be trampled by Nifty moving to 6000-6050 and "late" longs [above 5800 odd dma holding and monday break above 5900 would mean many would go long...would be trapped too...]
when both longs and shorts are trapped, thats when markets reverse....
also...if range market is there, nifty would have not to cross 5930-5950 on monday....then it shall fall to 5825 till 18th -20th....
often when a sharp upside or downside is there, NORMAL traders and poeple often confuse break of high as buy when it is not [for me break of 5950 would not be a buy and neither a sell] and break of low as sell [as happened near 5250-5300 levels few weeks back].....
patience shall be rewarded and traders who TIME their entry shall be rewarded [ for intra day its okay to trade based on intra day signals].....my timing is also not perfect but i shall try to catch the "highs" [and the bid swing down that shall follow] lets see if that happens. |
Amit, No one can have a perfect timing. It could happen sometimes accidentally. But, I can tell you a way to make that accidents happen quite frequently. Be determined to take entry either short or long at a point which was considered as quite impossible just some time ago. It must be real extreme point. You may miss quite a few normal trades but it improves your timing and success ratio dramatically. |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #132 Posted: Wed Sep 18, 2013 5:19 am Post subject: |
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yes, lets wait and watch. thats why i squared "riskier" calls sold [as replacement of 50% shorts] just when markets were about to rise yesterday.....so now i have 50% short and balance [oct] i can add when & if i see that climax u are talking about....that should keep 5900 about levels for shorts for Oct and we can "hope" it would a reasonable level.
in fact i would like to sell (small qty) Sep 5900/6000 call - one tranche tomorrow [not an open but at end IF market rises] and other one on 19th [6000/6100]. |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #133 Posted: Wed Sep 18, 2013 9:35 am Post subject: |
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| shorted few lots Oct at 5925..shall add till 6075 ..equidistant 50 points..also sold few 5900 call again at 97...better price than previous trade |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #134 Posted: Wed Sep 18, 2013 2:16 pm Post subject: |
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sold Sep 5900 call @99...[few lots]
sold reliance capital 339 Sep Futures stop 350
Sold wipro 485 stop 510
already short in Oct futures at 5925 and Sep at 5800 whereabouts.... |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #135 Posted: Wed Sep 18, 2013 2:28 pm Post subject: |
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all the scrips i posted few days back are still NOT in bullish mode.....hence market is not a buy....ONLY THING IS SINCE [revised] TARGET ULTIMATE WAS 5980-6020.....market has only touched these levels intra-day...hence CAN MAKE one more attempt to CLOSE AT THESE LEVELS....creating buying frenzy, stopping shorts, etc......
STILL i am short in Futures [shifted to Oct at 5925, after 40% so was squared at cost at 5865 levels] and calls |
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